HBW Advisory Services LLC Boosts Stake in Chevron Corporation $CVX

HBW Advisory Services LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,413 shares of the oil and gas company’s stock after purchasing an additional 670 shares during the period. HBW Advisory Services LLC’s holdings in Chevron were worth $2,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. increased its stake in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after buying an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares in the last quarter. GQG Partners LLC bought a new position in shares of Chevron during the 1st quarter valued at about $1,466,751,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Chevron by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,497,288 shares of the oil and gas company’s stock valued at $1,421,511,000 after purchasing an additional 573,072 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $157.23 on Friday. The firm’s 50 day moving average price is $154.67 and its 200-day moving average price is $148.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $271.69 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $164.80.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.